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Ascending Broadening Wedge

The Beginning of the End for Apple?Two scenarios here: 1. Ascending wedge is in play and Apple re-tests 2018 lows. This would not be a good look. 2. Symmetrical triangle is in play and Apple breaks out after a bit of a rest. Either way, this stock is going down short-term. Furthermore, my analysis suggests that Apple stock price is the direct result of buyback efficacy. Net revenue is down, guidance is down, yet this stock continues to get bought for its dividend. I believe Q3 will show weakness, resulting in a break in their buyback strategy, revealing that this emperor truly wears no clothes. Bias is leaning bearish.
NASDAQ:AAPL
by axelroark
LTC - Litecoin - Ascending Broadening WedgeLitecoin has been within an Ascending Broadening Wedge since its bottom in December of 2018, similar to my Etherium analysis, and is currently below the 60-Day Hull Moving Average on the Weekly... The Daily candle opened lower and below the 8- and 20-Day HMA... With the support of the 8- and 20-DHMA's on the 4Hour but below all HMA's on the 1Hour... The measure rule for this patter based on the principles of Charles Bulkowsi are for a maximum target of the beginning of the formation of the pattern, with that here are the targets we are eyeing... And if we measure the previous local downward move as a Motive Wave... The Fibonacci levels match pretty closely with our targets... The bearish technicals on BTC lead me to believe there is a strong chance of this pattern breaking down to these targets.
COINBASE:LTCUSDShort
by BTCookieMonster
5
Bulls trying their best 2 prevent the approaching 4hr deathcrossThe bull flag definitely seems like it wants to trigger a bullish breakout here. Of course being still in the last 10 minutes of the 1 day candle anything can happen and we must remain patient and balanced until we get a better idea upon the daily candle close...we also need to keep a close eye on the top trendline of the broadening wedge's resistance(in red), and the 11113.83 horizontal trendline(in white)...I expected at least a wick above the white horizontal if we breakout but the horizontal may potentially maintain its resistance for candle close...if not the next resistance will be the 11271 horizontal (red) above that, and just above that 11585 descending green trendline which is currently the biggest resistance to overcome...it's the one thats maintained resistance this whole correction. . .still waiting to see where the current candle closes the daily at but looks good for a breakout currently..anything could change in the last 10 minutes though. Even if we do breakout though it may not be enough to prevent the 4hr deathcross from happening...however if we dont immediately nosedive after the cross then the cross will likely be a fakeout and shortlived. So very important here to see how price action reactts to any kind of deathcross...as long as price stays above both the 200(in blue) and the 50ma(in orange) i should result in a fakoeut. If not it will resume dumping.
COINBASE:BTCUSDLong
by DrDovetail
ETHUSD - Critical technical state At the long-term timeframe of 1D chart we can see the price touches global support trend line. You may think it is a good sign because as usual the price touches the global support and bounces, however take a closer look at technical indicators. Volume decreases while oscillator shows hidden bearish divergence and Bollinger bands narrowing. Seems strange for a bullish scenario ? Yes, it is strange and we check series of Fibonacci retracement levels we would see that the price has just broke down Fib 0.5 support level. Finally we have ascending broadening wedge at the chart with a rejection of long scenario thus we come to conclusion. ETHUSD price action should be bearish for mid and long-term target price is $180. Ethereum can still break the pattern and move higher in case Bitcoin will perform great ascending movement however BTCUSD is in decrease stage according to our latest analysis. Such situation will force ETH to go down finishing the pattern
Short
by Skyrexio
3
ETH - Ascending Broadening Wedge*Using Poloniex for historical data. Shorting can be done on other exchanges, Bitmex in the case of this analysis. ETH is within an Ascending Broadening Wedge for its overall history, currently having broken below the lower trend line with the Weekly 60-Day Hull Moving Average and the 175-Day HMA above it at $235. A cross of these two HMA's could occur within the next 2 weeks. According to Charles Bulkowski (can be viewed on his PatternSite website or in his Encyclopedia of Chart Patterns) the measure rule for targets of Broadening Wedges is the beginning of the formation, for which in the case of Etherium would see it go back to $1. With that, here are levels of Support to consider for targets... Measuring the move from 6/24/19 to 7/15/19, on the Weekly, as a Motive Wave gives local targets of $172/$129/$86 before reaching the December 2018 low of $74. A Short with multiple targets and a tight stop would be the best play here, with orders laddered higher than the current price, in case of an attempt to break above the lower trend line...
POLONIEX:ETHUSDShort
by BTCookieMonster
#bitcoin - Possible bearish diamond top "H2"During the day a new pattern, that is considered bearish has come into play and possibly marking a high, a diamond-top. Also taking into consideration, that we have developed a bearish ascending wedge, it becomes more likely that we have seen a local high now. Possible targets for this are not $8k .... those are $10.7 and $10k, where we would have to look at the possibility of making a symmetric triangle which can go both ways, instead of the former mentioned ascending triangle which is rather bullish nature. This is only H2 interval, so nothing that is going to have an intense influence on the further longterm development. Keep an eye out. _____________________________ Warm regards, Neru
BITMEX:BTCUSD.P
by Gl4diator
3
Bonus Bonus chart: SoftBank weaknessCouple of things to unpack with Softbank, 9984: #1 Lower 78.6% high from previous peak #2 Previous peak was reversal off a massive long-term wedge resistance marking major tops from 2006 #3 Broke down from 30M SSR and key MA support #4 Softbank is super levered and materially dependent on unicorn valuations for its acquisitions to keep 9984 share price up. Softbank is now ranked up there with dumb money as it habitually overpays for acquisitions. 9984 paid $45 for Uber pre-IPO and no prizes for guessing the mark-to-market on that "investment". #5 Upward sloping wedges almost always breaks lower. Son almost lost everything during the tech bust, he has not changed his MO so why would this time be different?
TSE:9984
by WellTrainedMonkey
Bitcoin the revolution! How many satoshi do you have? Hold ITHow fast does travel travel today? The speed of light? How fast do the Internet memes get around? minutes, hours, days, weeks? Not long at all. How long does it take to viral YouTube video to spread around the world? No time at all. How long does it take for a black swan to sweep through an already shaky financial system? Does 2008 come to mind? Now that the US Congress has exposed Libra as a "Shitcoin" and Bitcoin as the "Real Deal" how long before more People, Corporations, Towns, Cities, States and Governments Not long in my opinion and I believe it will only accelerate once it starts. Perhaps it started today. If you evenly divide all of the 21 Million Bitcoins that can be mined among the current world population we are only talking about 0.00300000 Bitcoin each. About 300 thousand Satoshi max. And that is ONLY if they are evenly distributed to every human on earth. We know they will not because all of the alive 20 years from now do not even exist today. Think about that for a minute. There will be people in the future who can only own Satoshi by working for them. They can not just buy them up today like you can. So again I say that $ 1K in 30 minutes is nothing. When the real feeding frenzy starts we may be talking $ 5K, $ 10K, $ 20K, or more overnight. You do not think so? The people in Venezuela probably did not think so either. Or those in Zimbabwe when their money failed. It is the fate of every fiat currency ever printed. Devalue, hyper-inflate, disappear. Rinse and repeat. So what happens to real money when the fake money fails? It goes to the moon. The real bag holders, in my opinion, are not the ones left holding Satoshi when the music stops but rather holding those of their wealth in one of many other fiat currencies around the world. Our money should NOT be based on our ability to work our asses off for 40+ years so we can pay taxes on all the debts our governments rack up in our name and then die broke. It should not be that way. And I will tell you this as you are reading this post, it is not going to happen to me if I have anything at all to say about it! I refuse to be a slave of the State. The sooner I can break the better! And it starts with having an independent supply of real money that is not based on their wasteful spending and other political bullshit !!! I do not mind paying my share for public services, but limitless printing and spending of the fiat on my behalf has got to stop. If there were in the fiat currencies in this world there would be no wars because governments would actually have to ask the people if they want to fight each other and pay for it along the way. Their answer would be a NO resounding! I keep asking myself A BULL Flag? What is the primary trend? Follow the trend. Is she your friend. The famous HUNTING TOP - HUNTING BACKGROUND - He had not survived. Patience is the KEY of SUCCESS. In trading, in life, in EVERYTHING God is with you every day. Enjoy the highest value of all> THE LIFE! Live the life FREEDOM LIVE NAKAMOTO NEXT TARGET 15k God ABOVE EVERYTHING and EVERYONE! **And that, ladies and gentlemen, is my dose of hopium and fomo for the day! You get my point. Stack those Sats while the sun is still shinning on you.
BITSTAMP:BTCUSDLong
by ferGOD
2
Bitcoin - Ascending Broadening WedgeBullish case from here is that this whole move is an ascending broadening wedge which we have seen on micro levels through this whole move. F & the textbook AB=CD is an imediate short term target if Bitcoin is bullish we would expect to find support around the 0.382% fibo level. which is also the diagnonal support. A target for ths move higher will be towards ATH. Bearish case would be "F" failing to hold and an accellerated selloff, or a test of "f" reattempt at $10k previous support which would be rejected. I Would expect to potentially see a correction to 61.8% where we have the final CME Gap to be filled. Plan immediate 1. Remain hedge into F region and go to flat 2. if we fing support at $10k and break above and close above C the i will close hedges and start looking to be leveranging long again. 3. F/D fails to hold the i re-hedge - need to see strength of the dump beforre shorting God above all
BITSTAMP:BTCUSD
by ferGOD
Bitcoin and Parabolas This pattern is not even close to being complete, and there is major upside potential as bears have shown extreme weakness at halting this move. The parabolic pattern: This is most likely a parabolic pattern and there have only been 3 bases to this parabolic move, this means that there is still a high probability that the price can at least double from the price given at the 3rd consolidation. The price of the 3rd consolidation is 7.5 which can be seen in green, thus, it is highly probable that the price objective is estimated to be approximately 15k, if the price triples, I'd expect to see a move to 21k, however, it is important to note that most parabolic moves end with at least a 60 percent retracement of price, this means that if price does move to 15-21k, a drop to 7k should not be out of the question (resembled in the white arrow), however, I suspect any price below 6k would mostly be untouched. The price range of the move can be seen in the light blue box, however, it is also important to note that this is only a conservative estimate of the price objective, we could see prices well beyond this before a decent retracement , in some of my other analysis, it would be close to 80k, but that is a distance away and seems highly unlikely so I wont be posting it. If there is popular demand to see that analysis, I could post it, but take it with a grain of salt. The as for the broadening wedge, the current price is just under the price objective, where the price currently sits at 10900, the price objective is approximately 12k. I expect to see a small consolidation around 10-14k, and a possible continuation of the price movement. No indicators are necessary until there is a strong signal against the trend with confirmation by price and volume. In situations like these use of them should be weary because they may provide signals that are only indicative of a small reversal as opposed to a large one. This can be proven repetitively. Previous Analysis:
COINBASE:BTCUSD
by CuddlyCuddles
2
Bitcoin: Party Delayed? 2 Signs Of Vulnerability Now Present.Bitcoin is nearing the 9K resistance while the crowd is celebrating a little too early for a 10K target. The average retail sentiment went from predominantly bearish (everyone calling for 4500) to bullish (everyone is calling for 10K or higher) in just a couple of weeks. Are you new to investing in Bitcoin? Perhaps you got sucked in from all the nonsensical hype that is so prevalent in this space. I would first like to welcome you to the madness of the crowds and second, provide a helpful suggestion: step aside. Buying now means you are buying at retail prices, which means the risk is very high while the profit potential is comparatively low. These are levels where smart money locks in profits while the crowd happily takes the inventory off their hands while assuming much greater risk. How do we know this? No, it wasn't on a news site, or on some other internet analyst blog, it is clearly unfolding on the chart. Following price action has great value when it comes to short term market timing because it involves interpreting the "actions" of the crowd, NOT what they say or write. And at the moment price action has been unfolding in a way that says the crowd has bought, leaving price in a vulnerable position to retrace back toward the low 7Ks. Where is this visible on the chart? There are two very prominent clues: Bitcoin, along with many of the alts are exhibiting 5 Wave impulse structures. In Elliott Wave, once 5 waves complete, the chances of a corrective move of the same magnitude increase. That does not mean price will correct in an instant, BUT probability favors a broader retrace now much more than it did just a week or two ago. The second clue is the ascending wedge formation that has appeared during the attempt to push the 9K resistance. These price patterns are rare on larger time frames, and often appear during the 5th wave of an impulse. For us it is a huge red flag and cannot be ignored. That coupled with the fact that the majority of the internet analysts are bullish all point to a greater likelihood of a pullback, and not a move to 10K or beyond just yet. Keep in mind, this is a general probability. Price may very well push to 9K or slightly higher before the broader correction unfolds. We don't make the mistake of "predicting" how Bitcoin will unfold over the next week or two, and instead observe and weigh probabilities. There is no guarantee that the ascending wedge will assert itself, BUT since it is there, we will respect it and adjust our strategies accordingly. Over a year we managed to navigate the Bitcoin bear market effectively and patiently adjusted our portfolio which went from a -60% at the low to +5% as of this writing. The majority will not be impressed with such a performance because it's not 600% return on a leveraged $100 account. I share this not to impress anyone, but instead to reveal a glimpse of "reality" which most are not accustomed to in this space. In summary, Bitcoin and many of the alts have shown impressive moves over the recent two months and with it returns the circus of hype and nonsense that this market has become known for. When the untrained eye feels that it is "safe" to invest now, that is a clear warning that it is NOT. I am not bearish on Bitcoin, and I would certainly NOT short this market, BUT I will refrain from buying in areas where the crowd is jumping all in. Bitcoin may touch 9K or even 10K, but the risk of retrace is too high in my opinion. Our objective from here is to WAIT for a support level such as the low 7Ks or even lower before considering any new swing trade ideas or inventory purchases.
COINBASE:BTCUSD
by MarcPMarkets
45
BITCOIN About to GO BERSERK With An EXTENDED 5TH WAVE! MUST SEE Dear Friends! Or? No matter what this one is a pretty easy! D4rkEnergY will guide you - he cares about you. His mission is to MAKE YOU RICH! We here have an ascending wedge, which normally would mean, we would go down. And it is definitely as possibility! But wait - Because Bitcoin might have a different hidden plan. It has escaped the down line, and take a close look - Bitcoin might go berserk and make a 5th Wave Extension! So 2 Scenarios: - BERSERK-version which up via my Elliott Waves (You can make a LONG position with a stop loss below the wedge. - BORING-VERSION if the other option should fail, you can almost be sure we will go down, and you place buy orders at my pink box. Hereafter we will go up! You are welcome! Number 1 D4
BITMEX:BTCUSD.P
by D4rkEnergY
14